Five Legal Ways You Can Save Taxes Offshore
By Mark Nestmann
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can own a Swiss chalet, tax-free. Earn up to US$80,000/year offshore…again,
without paying a dime in U.S. income tax. Even purchase offshore mutual
funds…without tax liability.
The U.S. imposes
taxes on its citizens and permanent residents on their worldwide income.
Yet, the tax laws have hundreds of “loopholes” you can use to reduce your
taxes. And nearly EVERY ONE of these tax breaks is available offshore—where
you’ll also find greater privacy and protection from the threat of lawsuits.
Plus, there are a handful of tax savings opportunities available ONLY if
you work, invest or do business offshore.
In this column,
I’ll highlight one of the very best opportunities that you can take advantage
of, right now, to begin saving taxes, safely and securely offshore. Plus,
I’ll give you capsule descriptions of several other little-known tax loopholes—and
show you how you can learn more about them.
Buy A Swiss
Chalet With Your IRA
You can own
almost any non-U.S. investment in your retirement plan, including offshore
mutual funds and virtually any kind of foreign real estate. You can even
have your IRA pay you a salary to manage your offshore real estate portfolio!
And that’s
just the beginning.
Want to purchase
some of the lucrative offshore funds we’ve highlighted in past issues,
such as Man-AHL Diversified PLC (up an average of 22.3% over the last 10
years)? One of the only ways to do so without suffering ruinous tax consequences
is to buy it through your retirement plan.
Another benefit
is asset protection. All types of retirement plans have come under attack
in the courts. In contrast, if you invest your retirement plan in a suitable
jurisdiction—Switzerland, for instance—it can be configured to be essentially
judgment-proof.1
If you’d like
to unlock the hidden potential in your IRA, 401K or other retirement plan,
check out the supplement enclosed with this issue.
More Offshore
Tax Breaks
That’s just
the tip of the iceberg when it comes to tax breaks Congress provides U.S.
persons who invest, work or do business overseas. Here’s a small sampling
of some others: |
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 The
Sovereign Society, headquartered in Waterford, Ireland, was founded in
1998 to provide proven legal strategies for individuals to protect their
wealth and privacy, lower their taxes and to help improve their personal
freedom and liberty. |
| The
Society's highly qualified contacts recommend only carefully chosen banks
and investment advisors as well as financial and legal professionals located
in select tax and asset haven jurisdictions around the world. The Society
provides advice concerning the establishement and operation of offshore
bank accounts, asset protection trusts, international business corporations
(IBCs), private foundations, second citizenships and foreign residency,
as well as practical safeguards for financial, Internet and personal privacy. |
| The
Sovereign Society stands alone in fulfilling this singular, international
offshore service role for its members. To learn more about our organization
and how you too can become a member, please click
here. |
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Banks Harbor Nuclear Secrets that Could Vaporize Your Wealth -Hidden
financial time bombs lying in America’s big banks are about to detonate
- and cause total economic chaos…with fall-out, so great, it will make
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risk that won’t go away". To discover "The 3 Fall-Out Shelters" the
government and America’s big banks would prefer you knew nothing about
– and to learn how you can not only use these fall-out shelters to stay
out of harm’s way – but also rack up gains of 1894%...896%...120% and more
(just as we did in 2002/2003)... |
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• Earn US$160,000/year
tax-free, courtesy of Uncle Sam. U.S. persons who live and work outside
the United States can exclude up to US$80,000 per year in foreign earned
income from their U.S. income taxes.2 Your spouse is eligible for another
US$80,000 earned income exemption—for a total US$160,000 exemption for
a married couple.
• Defer tax
on business income. If you form a foreign corporation that generates “active”
income from foreign trade or business (not passive income from investments),
and the business is also managed offshore, you don’t need to pay taxes
on the profits until you repatriate them.3
• Defer tax
on investment income. If you purchase an offshore variable annuity that
meets IRS requirements, income from its underlying investments is legally
tax deferred until you begin taking income from it.4
• Tax-free
bequeathals and better returns. Offshore life insurance offers the same
tax benefits as domestic life insurance—namely, you can multiply a small
premium amount into a large death benefit that is tax free to your heirs.
To receive
these benefits—particularly in the case of doing business offshore or forming
an insurance company—it’s necessary to obtain expert tax advice. And of
course, they’re not for everyone—e.g., you may not want to get into the
insurance business.
This is just
a brief sampling of the literally dozens of tax saving strategies available
offshore. If you are interested in learning more, The Sovereign Society’s
Tax Advisor, Vernon Jacobs, is updating a special report entitled Legal
Ways to Pay Less Taxes Onshore and Offshore. It will describe dozens of
tax breaks you can put to work for you right now. We’ll alert you when
this report is ready, so stay tuned to TSI and The Sovereign Society’s
Offshore A-letter.
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